EIB funds €80m to reduce congestion in Greater Casablanca
The European Investment Bank (EIB) and Société Nationale des Autoroutes du Maroc (ADM) announced an €80m financing agreement today. This agreement aims to finance third-lane works on a 57.5 km section of the Casablanca motorway in order to reduce traffic congestion in Greater Casablanca, improve transport conditions, develop mobility and improve road safety in Morocco.
This financing concerns the works to widen a 25.8 km stretch of the Casablanca-Berrechid motorway to 2×3 lanes and the construction of 31.7 km of the Casablanca bypass motorway.
This project is part of the Schéma d’armature autoroutier national (national motorway framework plan) seeking to develop Morocco’s road network.
EIB Vice-President Emma Navarro said: “As the EU bank, we are delighted to be able to maintain our support for the competitiveness of Morocco – with which we are celebrating 40 years of cooperation – by improving its transport connections, thereby enabling its people to save time, cut transport costs and enjoy safer roads. This loan is in line with the EU’s determination to help develop infrastructure in Morocco. It will help to provide direct improvements to mobility and quality of life in a city as large as Casablanca.”
“We are very proud to receive the EIB’s help to finance third-lane works on the Casablanca-Berrechid and Casablanca bypass motorways. On the one hand it provides recognition for the professionalism and credibility of ADM’s projects, and on the other the EIB investment in this large-scale project initiated by ADM will serve to support the development of the Casablanca metropolitan area, improve traffic flow and enhance user safety,” said ADM Director General Anouar Benazzouz.
The EIB financing falls under the EU external mandate, whose goals include financing investment in important infrastructure projects. It covers almost half of the funding envelope needed to implement this project.
This is the tenth financing agreement between the EIB and ADM, constituting a strong symbol of the Bank’s determination to support a key Moroccan infrastructure sector.
Since 2007, the EIB has dedicated almost €5bn of investment to implementing new projects in key sectors of the Moroccan economy such as urban transport, energy, the private sector, water and sanitation, and education and young people. Morocco is the second largest beneficiary of EIB financing among the EU’s Southern Neighbourhood countries, accounting for 25% of the Bank’s total investment in the region.
